EUR/USD Price Analysis: A drop to the YTD low appears on the table

• EUR/USD rebounds from new eight-month lows around 1.0490.
• Further selling pressure should target the YTD low at 1.0481.

EUR/USD manages to regain some pace soon after hitting fresh multi-month lows in the 1.0490 region on Thursday.

The continuation of the downward bias should leave the pair vulnerable to further losses with the immediate target at the 2023 low at 1.0481 (January 6).

While below the key 200-day SMA at 1.0827, the pair is likely to face extra weakness.

EUR/USD daily chart